A team can give you more eyes on the market and news flow. By collaborating with other traders, you can potentially identify trends faster and get a better feel for the market sentiment.
Of course, team trading isn’t perfect, and it does come with its drawbacks…
Seeing other successful traders can make you compare yourself to others. You might make $$ on a great trade, only to hear someone else made more.
Or they nailed the bottom and top of the move, while you got stopped out for a loss.
Even worse, it can tempt you to follow others into trades you don’t fully understand. And I don’t have to remind you how those trades end up (spoiler alert: AWFUL).
I’ve trained thousands of traders and have spent thousands of hours in chat rooms. When utilized properly, they can help leapfrog your progress like crazy.
The reality is, it doesn’t matter if you're new or have been in the game for decades, like ProTrader Mike — you can’t trade every stock. And you’ll never be like anyone else. So you shouldn’t try.
But if you constantly compare yourself to others, or get upset because you missed out or ‘didn’t make enough,’ then your experience will suck.
And I don’t want that to happen to you.
So today, I’m giving you my top 3 tips for maximizing your experience when trading with others.
Here they are…
1. Clearly Define Your Strategy
You hear it all the time: Focus on what works best for you. But that’s a Catch-22, right? How do you know what works if you’re just starting out? Consider this…
What fits your personality, trading style, and schedule?
If you have a job and commitments, try swing-trade strategies. Focus on daily chart patterns, macro trends, and look for…
Hot sectors
‘Real’ stocks with fundamentals
Stocks breaking out to new 52-week or all-time highs.
If you have the time to devote to learning day-trading strategies, first decide what fits your personality and style...
Do you like to buy strength or weakness? Do you prefer quick spikes or slow grinders? What time of day works best for you? Once you know your trading personality and style, you can decide if you want to focus on:
• Breaking news plays…
• Breakouts and buying strength…
• Dip buys…
• Afternoon plays…
• Low floats…
• Or large-cap slow grinders.
Once you know the strategies and patterns you want to focus on, then move on to the next step…
Ready to learn how to make your own trading plan? Join the MOJO Day Trading Team today!
Today, take a look at the timestamp and level 2 image I put into the Discord Trading Pit Channel. See those marks at $.69 (821) and the $.69 (272) those are BULLISH indicators within the level 2 that I teach students. If correct the stock will go above and through that and produce a few nice green bars higher. Take a look what happened… it went from 8 million shares and $.69 to 113 million and is now at $.89 a nice 40% increase in one day,
YES!
IMPP (NASDAQ: IMPP) was my #1 watch. Does that mean it was the best play of the day? Not necessarily. Check out what I called out on ROKU to go from $111 to $119 for an 8 pointer BEFORE it happened. Imagine having $500 or $5000 in
that options play from the open, folks. Yes, that’s a large money play.
Did your trade plan and thesis work? Why or why not? What can you do differently next time? Maybe you made a good trade and it didn’t work. That’s OK. Being wrong is part of trading. Journaling you become your own teacher and a better
trader.
The best way to learn is by paper trade or use a very small size.
Are YOU Ready To Get Started?
Need more guidance as you kick off your trading journey?
It doesn’t matter what strategy you trade — MOJO Day Trading has all the tools you need in one place…
Get access to the Swing Trade Picks, Chat and top trading mentors in the Discord chat room…
Plus, you can test out your systems and strategies and trading plans risk-free with our paper trading feature. Start today!
Here is a webinar replay you can watch and an amazing offer at end with over $2,200 in educational value for YOU, Start today!
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Please note: Hypothetical computer simulated performance results are believed to be accurately presented. However, they are not guaranteed as to accuracy or completeness and are subject to change without any notice. Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Since, also, the trades
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